GST evasion of ₹40,000 crore detected from fake invoicing, fraud claims

Tax  authorities have detected goods and services tax evasion of ₹40,000 crore in over a year, largely on account of fake invoices and fraud input tax credit claims.  A host of measures aimed at plugging loopholes and preventing such frauds are set to kick in from January 1, but a senior government official told ET that adequate care was being taken to ensure these did not compromise wit…